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Credit Score After the Divorce: Issues to Keep in Mind



Credit Score After the Divorce: Issues to Keep in Mind

The divorce process is a complicated period, which significantly changes your social and financial status. Becoming an independent person, you still have joint accesses and duties with your ex-partner.

Since the procedure poses money difficulties itself, many people wonder how breakup affects their credit history. Some experts say those things are not bound, while people share how their credit rating drops after the breakup.

First of all, everyone should know his/her credit history. If you don’t, ask for a free credit report and learn more information at reliable and informative websites.

To dot all the I’s, learn in which cases divorce may cause unexpected consequences, and how to protect yourself.

Can DivorceDirectly Affect My Credit Score?

In legal terms, the answer is ‘no’. Whether you are single or married, it doesn’t affect your reliability. None of the banks and other institutions won’t be guided by your status while processing your applications and giving approval. The procedure of divorce also cannot affect your score.

Another matter: sometimes split causes financial difficulties or leads to problematic situations. Here are cases when your credit score may be affected by the consequences of the process.

#1 Your Ex-Partner Doesn’t Pay for Joint Bills

All debts you’ve collected in marriage, become the responsibility of both sides. If your partner doesn’t care about the credit, he/she may refuse to pay. As a result, your score will be lowered either.

Surely, such matters should be discussed at the court, and usually, the judge obliges both of you to split the bills. The problem is, no one controls your partner in truth. The only way out for you is to pay for everything by yourself, and then file a suit for non-payment. It sounds complicated, but it is better than ruining your credit history because of someone’s mistakes.

#2 Partner Uses Your Credit Card

Some married couples use this function for convenience. Your husband/wife can become an authorized user of your card. If the partner continues to pay with your card, the bank won’t track the charges and decide who’s fault it is. You are obligated to repay all debts, otherwise they lower the score. That is why you better check all accounts and delete additional users.

#3 You Cannot Repay the Loans

The legal charges during the divorce are massive. Besides, all of your accounts may be frozen before the court finishes the division of property. In such a case you may suffer from urgent cash need, nothing to say about unpaid loans.

Even if it seems impossible at the moment, you are to solve the situation. Otherwise, it will affect your credit rating for several years. Remember that the longer you wait, the lower your score is.

How to Protect the Credit

As you see, there are plenty of nuances behind the divorcement. Still, there are ways to improve the situation with time steps.

#1 Come to the Agreement

Personal conflict should have nothing in common with money issues. Even if you feel angry and frustrated, try to keep good relations with your partner. It helps to boost the process, split the property, and improve the score of both persons. Set the emotions aside and discuss essential topics.

#2 Adapt to a New Lifestyle

Keep the budget as a couple is always easier. You share the charges and help each other in difficult situations. Now you are fully responsible for your life. Since you cannot predict your money state right now, try to minimize the outgoings. Cut off unnecessary purchases and save some money for emergencies. Later you will adapt to the situation, but now it is better to expect the worst.

#3 Manage Joint Debts

Again, you two are responsible for all debts, no matter how the court split the bills. That is why you better talk to each other and work on the common goal – start a new life without previous troubles. If your partner cannot pay, do it for yourself now and require that money later. Keep all checks to prove that you’ve paid by yourself.

#4 Do Not Delay the Trial

It is hard to talk about cash management while all accounts are frozen. You don’t know what to expect in the future. Try to solve all issues as quickly as possible. Surely you feel stressed in such a period of life, but get a grip is the only way to manage it.

#5 Borrow Money Smartly

You may need some money to manage all the procedures and survive yourself. Now you cannot use your assets and even sell the property. The best way to survive without the impact on your score is to ask the closest people for help. You will repay as soon as the trial is finished. Also, credit history won’t suffer from such actions.


Another idea is divorce loans. This kind of credit is adapted for people involved in the judicial process. You’ll easily get the approval, and the terms of repayment are usually extended. Moreover, you don’t need a deposit – it would be hard to find some cash during the trial.

Surviving a critical period in personal life, it is hard to think about money troubles. Usually, we feel confused and decide to postpone such matters until better times. In truth, it makes the situation even worse – your credit history is lowering after each missed payment. No matter how hard it is, you should analyze the issue and find the best way to keep your financial status at a decent level.

Emily Morgan is writing about the financial issues trying to help people understand the basics. Today she works at Fit My Money - the place where smart financial steps start.